Mainstreet Equity (TSE:MEQ) Reaches New 1-Year High – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$211.42 and last traded at C$211.00, with a volume of 1739 shares trading hands. The stock had previously closed at C$212.58.

Analyst Upgrades and Downgrades

Separately, Atb Cap Markets downgraded Mainstreet Equity from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th.

Mainstreet Equity Price Performance

The company’s 50-day moving average price is C$203.03 and its two-hundred day moving average price is C$190.36. The company has a debt-to-equity ratio of 117.76, a current ratio of 0.40 and a quick ratio of 0.81. The company has a market capitalization of C$1.90 billion, a P/E ratio of 15.08 and a beta of 1.63.

Mainstreet Equity Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th were given a dividend of $0.027 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $0.11 annualized dividend and a yield of 0.05%. Mainstreet Equity’s dividend payout ratio (DPR) is presently 0.81%.

About Mainstreet Equity

Mainstreet Equity Corp. engages in the acquisition, redevelopment, repositioning, and management of mid-market residential rental apartment buildings in Western Canada. The company owns a portfolio of multi-family residential properties in British Columbia, Calgary, Edmonton, Saskatoon, Regina, and Winnipeg.